Constitution of fund.

(1) There shall be constituted a fund to be known as "Fire Prevention and Life Safety Fund". (2) The proceeds of fire fees and penalties (other than fines) recovered under this Act, shall first be credited to the Consolidated Fund of the State and after deduction of the expenses of collection and recovery therefrom, under appropriation duly made by Ia:w in this behalf, be entered in, and transferred to, fund constituted under sub-section (1). (3) Any amount transferred to the fund under sub-section (2) shall be charged on the Consolidated Fund of the State. (4) The amount in the fund shall be expended in such manner and under such conditions as may be prescribed, for the purposes of this Act. (5) The fund shall be reflected into the budget estimate of the respective authority and the accounts in respect thereof shall be maintained and audited in accordance with the procedure prescribed for the purpose of maintenance of accounts in the relevant Jaw or the rules and orders made thereunder as are applicable to the respective authority.